Bristol Hospital Inc
Bristol, Hartford County, CT
· CCN 070029
Licensed to Bristol Hospital Incorporated
Composite
56.1
rank score
Distress
58
FY2023
Fit
75
vs thesis
Estimated ticket
$52.3M–$209M
123 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin negative
- under 30 days cash on hand
- current ratio below 0.8
- liabilities exceed assets
- occupancy 45-60%
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $157M |
| Operating margin | -2.7% |
| Total margin | 4.5% |
| Days cash on hand | 0 |
| Current ratio | 0.78 |
| Occupancy | 46% |
Facility
| Beds | 123 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $425K |
| Per-bed (high) | $1.7M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 105 | $134M | $-12.4M | -7.9% | -8.1% | 13 | 1.47 | 59% | 5,526 | 74 |
| 2021 | 105 | — | $-153M | — | — | — | — | 58% | 4,316 | — |
| 2022 | 123 | $146M | $-2.2M | -6.6% | -1.4% | 17 | 0.71 | 48% | 4,760 | 79 |
| 2023 | 123 | $157M | $7.6M | -2.7% | 4.5% | 0 | 0.78 | 46% | 4,478 | 58 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Bristol Hospital And Health Care Group | operational/managerial control | 100 | 1984-12 | |
| Kurt Barwis | operational/managerial control | 100 | 2006-08 | |
| Glenn Heiser | corporate officer | 2009-01 | ||
| Jennifer Mccallister | corporate director | 2019-04 | ||
| John Lodovico | corporate officer | 2008-01 | ||
| Joseph Lockwood | corporate director | 2017-04 | ||
| Kurt Barwis | corporate director | 2006-11 | ||
| Louis Auletta | corporate officer | 2024-04 | ||
| Michael Heimbach | corporate director | 2018-03 | ||
| Michele Normandin | corporate director | 2022-01 | ||
| Rupalini Rawal-Dhingra | corporate director | 2021-10 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.
Who has been buying in CT
Completed CMS ownership changes in this state. These buyers already cleared the licensure process here — and whoever advised them knows this market.
| Date | Buyer | Seller | Hospital | Beds |
|---|---|---|---|---|
| 2019-10-01 | Svmc Holdings, Inc | St. Vincent's Medical Center | St. Vincents Medical Center | 219 |
| 2019-06-09 | Bridgeport Hospital | Milford Hospital, Inc | Bridgeport Hospital | 390 |
| 2017-08-01 | Vassar Health Connecticut Inc | Essent Healthcare Of Connecticut, Inc. | Sharon Hospital | 50 |